There's no knight in shining armor coming to rescue this company, so all the rumors are just what they are BS. At most what you might see is someone buying out the trademarks, TRU owns KBToys, eToys.com and lots of others. It could be feasible to keep .com going but honestly, that whole platform is a mess. Sportsauthority.com points to d---s sporting goods now.
Toys had its chance to diversify outside of its core but senior management mostly just crapped on the ideas.
@SG5 it comes directly from the sales of the liquidating store instead of corporate payroll accounts.
Employees won't get paid beyond May 14th...where is the cash coming from to extend into June and July??
Maybe from a manipulation standpoint they might want to look viable to a buyer. Because the sales bump was caused by people frantically using their gift cards before they’re useless. Not people having a sudden burst of love and support for the company. The rest were vultures waiting for the sales to start leaving empty handed.
The sales look nice on paper but there wasn’t much new cash rolling in.
On an unrelated note the KB toy news is interesting. They’re probably going to go ecommerce/small boutique toy store like the old ones they had in strip malls. I think anyone starting a specialty retailer is a little nuts but if they have a strategy go for it. I’ve lost my appetite for working in the retail industry.
Reply to Sg5vhiQ-psp
Do you think they are using the sales bump and customer outcry to attract a buyer? Also it's possible because some states have a 90 WARN law for layoffs that they are trying to align their close date across the country with those states.
Your statement was hardly compelling enough to deserve reposting.
Anyways, what’s with the conference call pushing the closing dates even further back? Additional confusion for employees and customers alike. The high sales figures this week were just gift cards, not cash. So why prolong the inevitable?